[🇧🇩] Partnership Between Bangladesh And South Korea

[Saif]

Korean EPZ finally gets mutation documents

The Korean Export Processing Zone (KEPZ), the single largest private export processing zone in Bangladesh, has finally obtained the much-needed mutation documents from the government on February 6, a move that may facilitate more foreign investment in the country.

www.thedailystar.net

Korean EPZ finally gets mutation documents
It may open doors for more FDI

The Korean Export Processing Zone (KEPZ), the single largest private export processing zone in Bangladesh, has finally obtained the much-needed mutation documents from the government on February 6, a move that may facilitate more foreign investment in the country.

Many proposals for foreign direct investment (FDI), such as Samsung, were withdrawn due to the lack of mutation documents for the KEPZ, said Shafiqul Alam, press secretary to Chief Adviser Prof Muhammad Yunus, at a press briefing in Dhaka yesterday.

Korean entrepreneur Kihak Sung, the highest merchandise exporter in the country from his company Youngone, also shifted some investment from Bangladesh to Vietnam for not having the mutation documents in a timely manner, the press secretary also said.

The government, which had earlier promised Sung to hand over the mutation document on February 6, fulfilled its commitment on time, raising expectations that FDI will return to Bangladesh.

Sung bought the land in Chattogram in 1999 and began setting up the EPZ on 2,500 acres of land.

However, he faced difficulties in obtaining the mutation documents due to government procedures and cumbersome processes.​

 

[Bilal9]

Korean EPZ finally gets mutation documents

The Korean Export Processing Zone (KEPZ), the single largest private export processing zone in Bangladesh, has finally obtained the much-needed mutation documents from the government on February 6, a move that may facilitate more foreign investment in the country.

www.thedailystar.net

Korean EPZ finally gets mutation documents
It may open doors for more FDI

View attachment 14223

The Korean Export Processing Zone (KEPZ), the single largest private export processing zone in Bangladesh, has finally obtained the much-needed mutation documents from the government on February 6, a move that may facilitate more foreign investment in the country.

Many proposals for foreign direct investment (FDI), such as Samsung, were withdrawn due to the lack of mutation documents for the KEPZ, said Shafiqul Alam, press secretary to Chief Adviser Prof Muhammad Yunus, at a press briefing in Dhaka yesterday.

Korean entrepreneur Kihak Sung, the highest merchandise exporter in the country from his company Youngone, also shifted some investment from Bangladesh to Vietnam for not having the mutation documents in a timely manner, the press secretary also said.

The government, which had earlier promised Sung to hand over the mutation document on February 6, fulfilled its commitment on time, raising expectations that FDI will return to Bangladesh.

Sung bought the land in Chattogram in 1999 and began setting up the EPZ on 2,500 acres of land.

However, he faced difficulties in obtaining the mutation documents due to government procedures and cumbersome processes.​

I am glad that Mr. Kihak Sung persisted on the KEPZ effort and did not give up on Bangladesh and its people despite the machinations of supremely corrupt Hasina starting in the early 2000s.

Having personally known him, he has been an wonderful unofficial ambassador for Korea in Bangladesh, who has sown seeds of economic well-being for hundreds of thousands of Bangladeshis directly as well as indirectly.

Thousands of Bangladeshi families have surpassed the barriers of poverty to become middle class people, only due to employment in his various industrial concerns.

I and many others in Bangladesh in the industrial sector will forever gratefully remember his contribution towards Bangladesh' early export-based industrialization - starting in the 1980s.